Staples 2003 Annual Report Download - page 23

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EXECUTIVE COMPENSATION
The following table sets forth certain information concerning the compensation for each of the last three fiscal years
of our Chief Executive Officer and four other most highly compensated executive officers during the fiscal year ended
February 1, 2003 (the “Senior Executives”).
SUMMARY COMPENSATION TABLE
Annual Compensation (1) Long Term Compensation
Name and Principal Position
Fiscal
Year Salary ($) Bonus ($) (2)
Other Annual
Compensation ($)
Restricted Stock
Awards ($) (3)
Common Stock
Options (#)
All Other
Compensation
($) (4)
Ronald L. Sargent ........... 2002 852,500 1,034,797 — 1,354,900(5) 375,000 102,821(6)
President & Chief 2001 714,667 134,505 — 2,388,750(7) 1,025,000 87,457(6)
Executive Officer 2000 544,250 149,375 — 1,064,062(8) 600,000 54,556(6)
Thomas G. Stemberg ......... 2002 852,500 1,034,797 115,423(9) 7,363,900(10) 350,000 127,123(11)
Chairman & Chairman 2001 728,533 182,198 — 1,365,000(12) 350,000 106,978(11)
of the Board 2000 710,117 243,624 — 1,418,750(12) 600,000 81,466(11)
Joseph S. Vassalluzzo ......... 2002 518,333 376,741 — 609,705(13) 100,000 85,310(14)
Vice Chairman 2001 498,633 74,831 — 614,250(13) 100,000 74,922(14)
2000 482,050 121,278 — 638,437(13) 408,514(15) 44,513(14)
Basil L. Anderson ........... 2002 470,708 410,704 183,589(16) 566,348(17) 129,000(18) 7,619(19)
Vice Chairman 2001 215,250 31,504 219,009(16) 720,720(20) 477,500(21) —
2000 — — — — — —
John J. Mahoney ............ 2002 513,750 373,368 — 609,705(22) 100,000 70,210(23)
Exec. Vice President & 2001 498,633 74,831 — 614,250(22) 100,000 59,014(23)
Chief Administrative Officer 2000 482,050 121,278 — 638,437(22) 308,514(24) 45,525(23)
(1) In accordance with the rules of the SEC, other compensation in the form of perquisites and other personal benefits
has been omitted for certain Senior Executives because the aggregate amount of such perquisites and other personal
benefits constituted less than the lesser of $50,000 or 10% of the total annual salary and bonus for the Senior Executive
for each year shown.
(2) Represents amounts paid under Staples’ Executive Officer Incentive Plan for the relevant fiscal year.
(3) We do not intend to pay dividends on the restricted stock grants reported in this column. PARS granted in 2001 vested
on May 1, 2003. See “Performance Accelerated Restricted Stock Awards.”
(4) The split dollar insurance program payments represent an actuarial equivalent benefit to the Senior Executive from
payment of annual premiums by us. Our matching contributions under our 401(k) and Supplemental Executive
Retirement Plans are made in the form of Staples common stock that vests on an annual basis over five years and becomes
fully vested for all past and future matching contributions after five years of employment with us. With the exception
of Mr. Anderson, all of the Senior Executives have been employed by us for more than five years. All distributions to
participants under these plans are paid in cash. See “Securities Authorized for Issuance under Equity Compensation Plans
Supplemental Executive Retirement Plan.”
(5) Reflects an award of 100,000 shares of PARS to Mr. Sargent at a per share value of $13.549. As of February 1, 2003,
these restricted shares owned by Mr. Sargent had a total value of $1,717,000. As of February 1, 2003, the aggregate
value of the 425,000 shares of unvested restricted stock held by Mr. Sargent was $7,297,250. See “Performance
Accelerated Restricted Stock Awards.”
(6) Reflects $15,680, $14,898 and $5,449 for split dollar insurance premiums we paid in 2002, 2001 and 2000, respectively.
Also reflects $87,141, $72,559 and $49,107 that we contributed on a matching basis pursuant to the terms of our 401(k)
and Supplemental Executive Retirement Plans for 2002, 2001 and 2000, respectively.
(7) Reflects an award of 175,000 shares of PARS to Mr. Sargent at a per share value of $13.65. As of February 1, 2003,
these restricted shares owned by Mr. Sargent had a total value of $3,004,750. See “Performance Accelerated Restricted
Stock Awards.”
17